[Peter85]

IMHO connection speed gets less and less important the further away from each other the server and the client gets.
The connection between the server and the company you buy your bandwith from is just one small part of the link. That company has to be connected to your countrys back end. And your country has to be connected to the country next to it, and so on. In many places in the world these connections are very slow and the few millisecounds it takes for the data to travel that short distance over your 1Mbit connection will be more or less negliable.
But still, 1Mbit is a bit too slow for anything but really small forums.